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Shares of Philip Morris International Inc. were little changed in early trade Thursday as the tobacco giant reported per-share earnings that missed analyst expectations. Net income was $694 million for the quarter, down 60% from $1.71 billion in the year-ago quarter. Per-share earnings were 44 cents, versus $1.10 a year ago, the company said. That included an 88-cent per-share tax charge, and adjusted earnings per share were $1.31. Analysts surveyed by FactSet had expected EPS of $1.35. Revenues were $21.6 billion, compared to $19.2 billion a year ago. Cigarette shipments of 7.2 billion units were up 2.7% compared to a year ago. The company sees full-year diluted earnings per share of $5.20 to $5.35, up from $3.88 in 2017. Shares have lost about 3.7% in the past 12 months, lagging the 24.1% gain in the Dow Jones Industrial Average .

Feb. 8, 2018 at 7:27 a.m. ET

by Andrea Riquier

Philip Morris Q4 revenue $21.59 billion vs. year-ago $19.2 billion

Philip Morris Q4 revenue $21.59 billion vs. year-ago $19.2 billion

Feb. 8, 2018 at 7:11 a.m. ET

by Andrea Riquier

Philip Morris Q4 net income $694 million, down from $1.71 billion a year ago

Philip Morris Q4 net income $694 million, down from $1.71 billion a year ago

Feb. 8, 2018 at 7:11 a.m. ET

by Andrea Riquier

Philip Morris Q4 EPS FactSet consensus $1.35

Philip Morris Q4 EPS FactSet consensus $1.35

Feb. 8, 2018 at 7:11 a.m. ET

by Andrea Riquier

Philip Morris Q4 EPS includes 88 cent-per-share tax hit

Philip Morris Q4 EPS includes 88 cent-per-share tax hit

Feb. 8, 2018 at 7:11 a.m. ET

by Andrea Riquier

Philip Morris Q4 EPS 44 cents vs. $1.10 a year ago

Altria Group Inc. Chief Executive Marty Barrington is retiring and will be replaced by another 25-year company veteran. Mr. Barrington, who has held the top post for six years, will retire in May after a quarter of a century with the tobacco company, Altria said Thursday. His replacement is Howard Willard, 54, the company's current operating chief and former finance chief.

A Food and Drug Administration advisory committee is expected to vote Thursday on whether Philip Morris International has made a convincing case that its IQOS tobacco heating device is less harmful than cigarettes. A decision in its favor could have enormous implications for tobacco regulation and U.S. public health.

FINAL DEADLINE ALERT: Brower Piven Reminds Investors Of Upcoming Deadline In Class Action Lawsuit And Encourages Shareholders Who Have Losses In Excess Of $100,000 From Investment In Philip Morris International Inc. (NYSE: PM) To Contact The Firm

Philip Morris International Inc.

Philip Morris International, Inc. is a holding company, which engages in manufacture and sale of cigarettes and other tobacco and nicotine-containing products. It operates through the following geographical segments: European Union; Eastern, Europe Middles East, and Africa; Asia; and Latin America and Canada. The company was founded by Philip Morris in 1847 and is headquartered in New York, NY.
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